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. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time president obama has met face to face with congressional leaders since mid-november. duarte, tick tock. >> thank you. >>> general schwarzkopf is being remembered this m
. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of...
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let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. >> reporter: aftereeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours to work a small plan to keep some taxes from going up. after the meeting, house democrat leader nancy pelosi told us she'sa at least a little encouraged. >> it was constructive. as i say, candor is constructive, and i think it moved us forward, but
let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. >> reporter: aftereeting with the congressional leaders, the president said there would be one more...
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>> i think that's the question of our political moment here right now. i mean, you know, the proverbial chain is as strong as its weakest link. well, in this case the house and the leadership that the republican leaders have in congress is going to be dictated by this very hard right tea party caucus, and so they're not in a position of strength. they're in a position of -- excuse me, they're in a position of strength. that dictate what issues get tackled and the interaction between congress and the presidency. >> as long as the hard right is only afraid of the hard right back home, the further hard right, they have a lot of strength. >> yeah, and i don't think this type of party can become a governing party for those reasons. >> do they want it? do they want to? >> some of them don't. some would rather go down fighting. >> you can survive in congress for 30 or 40 years simply issuing press releases trashing the government. >> easily. >> that's all you have to do. >> there's 100-plus that could be there forever. >> they're all stuck with the committee ch
>> i think that's the question of our political moment here right now. i mean, you know, the proverbial chain is as strong as its weakest link. well, in this case the house and the leadership that the republican leaders have in congress is going to be dictated by this very hard right tea party caucus, and so they're not in a position of strength. they're in a position of -- excuse me, they're in a position of strength. that dictate what issues get tackled and the interaction between...
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i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> well, we have just wrapped up the worst five-day run for the three major averages in six weeks on perceived lack of action and lack of progress from the white house. let's get back to eamon javers who is in front of the white house, and i believe you have a little bit more information us about the fiscal cliff meeting that just broke up between the president and congressional leaders and that there were some disappointed reporter
i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their...
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russia and the white house has played a tightrope promoting trade and also saying they promote human rights and you cannot go on like this forever. >> i know he's had different titles and he's running the country. >> he's the boss. is he a thug? to me he looks like a thug. >> he's a very tough guy and those who don't go along with him have to go a long way and the u.s. is seen as someone who won't go along with the plan and thus becoming increasingly the enemy and his own support is diminishing and they largely support the magnitsky bill and it's in the provinces where the nationalistic moore support is increasing the base that he needs to keep onboard and that's another reason why he's acting the way he did on this bill. >> we appreciate it. ? thank you. >> europe's fiscal woes dominated the american markets most of the year. >> the fragile european economy not out of the woods just yet. here is jimmy pathakukas of the institute. it was "barron's" just this week. this is the year to invest in europe. do you disagree with that or can the two work together? >> well, you know, they say the un
russia and the white house has played a tightrope promoting trade and also saying they promote human rights and you cannot go on like this forever. >> i know he's had different titles and he's running the country. >> he's the boss. is he a thug? to me he looks like a thug. >> he's a very tough guy and those who don't go along with him have to go a long way and the u.s. is seen as someone who won't go along with the plan and thus becoming increasingly the enemy and his own...
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four top leaders, four top ranking members in congress meeting with the president right now. we've got some details from our chief white house correspondent jessica yellin who said moments ago that the president is meeting with timothy geithner. the president has asked to raise taxes on those making $250,000 or more. and if the other side does not have a counter proposal, then he will is ask for an up or down vote in the house and senate. there you go. as soon as they come out, they will step up to the microphones and you will get it right here on cnn. you will be the first to know. >>> if you were putting together a list of the top 2012 moments, there were compelling moments inside and outside the campaign that made indelible marks. here are the top ten from our chief correspondent candy crowley. >> reporter: it's like finding your favorite grain of sand on the beach. there are moments when catch phrases become boomerangs. >> if you've got a business, you didn't build that. >> i like being able to fire people that provide services to me. >> reporter: when a woman took the sp
four top leaders, four top ranking members in congress meeting with the president right now. we've got some details from our chief white house correspondent jessica yellin who said moments ago that the president is meeting with timothy geithner. the president has asked to raise taxes on those making $250,000 or more. and if the other side does not have a counter proposal, then he will is ask for an up or down vote in the house and senate. there you go. as soon as they come out, they will step...
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you say congress is going to be able to deal with these tax cuts right after january 1st. >> i think that we will see more. you are asking about something that may have been leader today. but for over a month, both of us have been trying to put it away from this issue to deal with it but also to begin dealing with the real nation to leave the problem the nation faces which is entitlement reforms. what happened before which is more responsible or after january 1st is going to happen. i don't think the market is actually responding to that. i think the markets is actually going to respond more negatively to the situation we kick the can down the road and we really don't address the structural fiscal issues the nation has. it's going to have been slow but if in fact we do not use this period of time before right now to deal with the bigger issues of entitlement and if we just continue to kick the can down the road with these half measures the market is going to respond any more negative way to our inaction. >> the two years of negotiations with a member of the of their party about the i
you say congress is going to be able to deal with these tax cuts right after january 1st. >> i think that we will see more. you are asking about something that may have been leader today. but for over a month, both of us have been trying to put it away from this issue to deal with it but also to begin dealing with the real nation to leave the problem the nation faces which is entitlement reforms. what happened before which is more responsible or after january 1st is going to happen. i...
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republicans in congress are in the mid-20s. >> that's right, there's no question about that, tremont. obama has done a much better job of positioning himself to take advantage of the fiscal cliff. he has painted republicans is only caring about their millionaire and billionaire friends. taking hostage the people of america. you have steny hoyer saying that republicans want to take children hostage and threatened to shoot them. this is vilifying republicans and it has been incredibly effective. in the short term, absolutely, the president is set to take advantage of this. tax increases, massive tax reductions to the military. republicans really stand and the notion is appalling about who wins, but the republicans win because the economy is going to go out yet another fiscal cliff. george w. bush is not the president. obama is the president, he is not putting forth proposals to work with republicans. he will have to take ownership of this. they need to come up with a cohesive message about real economic growth and shrinking the size of government. they don't have a message and that is g
republicans in congress are in the mid-20s. >> that's right, there's no question about that, tremont. obama has done a much better job of positioning himself to take advantage of the fiscal cliff. he has painted republicans is only caring about their millionaire and billionaire friends. taking hostage the people of america. you have steny hoyer saying that republicans want to take children hostage and threatened to shoot them. this is vilifying republicans and it has been incredibly...
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she's with us right now. kelly, how angry -- i use that phrase angry instead of another phrase -- are the members of congress or specifically in the senate to be back in washington on the eve of new year's day for this ludicrous exercise in nothingness it appears. >> reporter: they've been conditioned over the last few years that haul days seem to equate with deadlines, which means they somehow end up here. there is a sense of frustration because for members coming back, if there isn't anything to vote on or being look at, they're in study hall if you will. that comes with the territory, and they know they have to do that. what's more encouraging is i talked to sources that said at a very senior level the top negotiators taxed by the white house and capitol hill to work on this deal have been talking, have been looking for ways where they could come up a little here, move around a little there, the typical part of negotiating. when you have a meeting like this afternoon which is seeing the president and congr
she's with us right now. kelly, how angry -- i use that phrase angry instead of another phrase -- are the members of congress or specifically in the senate to be back in washington on the eve of new year's day for this ludicrous exercise in nothingness it appears. >> reporter: they've been conditioned over the last few years that haul days seem to equate with deadlines, which means they somehow end up here. there is a sense of frustration because for members coming back, if there isn't...
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>> if we fail, the country fails, right? this is a group that is bringing together many outside voices. we have 2,500 small business leaders and 3,000 citizens across the country, leading ceos, partners, former members of congress who are all coming together and saying, this is an issue that we know has to be dealt with and that we have to put aside our partisan differences, we have to put aside the special interests, and work on this. and if we go over the fiscal cliff, we'll have to continue to help members of congress come together and solve this problem. because, again, these are changes that will be made. the question is, are they going to be made on our own terms, or because they're forced upon us, which would be a much, much more damaging way to make changes to our country and to stabilize the deficit and debt, to help grow the economy in the longer term. so we have to keep working on this. it's one of the biggest economic challenges facing the country. >> absolutely. and the longer time goes on, the more we know just
>> if we fail, the country fails, right? this is a group that is bringing together many outside voices. we have 2,500 small business leaders and 3,000 citizens across the country, leading ceos, partners, former members of congress who are all coming together and saying, this is an issue that we know has to be dealt with and that we have to put aside our partisan differences, we have to put aside the special interests, and work on this. and if we go over the fiscal cliff, we'll have to...
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they were both expected to be all right. that's good to hear. >>> that's it for the headlines. >> kelly: we want to get to something else. in about eight hours from now, the leaders of congress will meet with president obama at the white house. it could be the last shot to avoid going over the so-called fiscal cliff. but is the meeting just for show or could we really truly be close to a deal? doug is live in washington with more details, what are we in for? >> to be a fly on the wall in this meeting. these are the players that will be there today. the president with congressional leaders from both parties to see if they can get something done. it may be substantive, it may be window dressing. >> any time you announce a meeting publicly in washington, it's usually for political theater purposes. nothing good ever comes from it. there is one thing you have to do in politics. if the president meets with a foreign leader, you want to make sure you know what's going to happen at the meeting. when the president calls congressiona
they were both expected to be all right. that's good to hear. >>> that's it for the headlines. >> kelly: we want to get to something else. in about eight hours from now, the leaders of congress will meet with president obama at the white house. it could be the last shot to avoid going over the so-called fiscal cliff. but is the meeting just for show or could we really truly be close to a deal? doug is live in washington with more details, what are we in for? >> to be a fly...